Short Interest in Future FinTech Group Inc. (NASDAQ:FTFT) Grows By 167.3%

Future FinTech Group Inc. (NASDAQ:FTFT) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 122,080 shares, a growth of 167.3% from the April 15th total of 45,678 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 353,997 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Future FinTech Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Future FinTech Group Stock Performance

FTFT opened at $1.22 on Friday. Future FinTech Group has a one year low of $1.00 and a one year high of $16.12. The stock’s fifty day moving average is $1.36 and its 200-day moving average is $2.82. The company has a market capitalization of $6.39 million, a PE ratio of -0.02 and a beta of 1.84.

Future FinTech Group (NASDAQ:FTFT) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $29.81 EPS for the quarter. Future FinTech Group had a negative return on equity of 127.23% and a negative net margin of 120.63%.The company had revenue of $1.35 million for the quarter.

Institutional Trading of Future FinTech Group

A hedge fund recently bought a new stake in Future FinTech Group stock. Royal Bank of Canada acquired a new position in Future FinTech Group Inc. (NASDAQ:FTFT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 40,000 shares of the company’s stock, valued at approximately $31,000. Royal Bank of Canada owned approximately 0.79% of Future FinTech Group as of its most recent filing with the SEC. 0.19% of the stock is currently owned by institutional investors.

About Future FinTech Group

Future FinTech Group Inc, incorporated in 2010 and headquartered in Shanghai, China, is an investment holding company listed on the NASDAQ under the symbol FTFT. Since its initial public offering in April 2017, the company has pursued a diversified growth strategy that spans beverage and agricultural production, digital asset operations, and consumer financial services. Future FinTech’s business model centers on acquiring and developing brands and technologies that align with evolving consumer and industrial trends.

In its beverage and agriculture segment, Future FinTech develops, manufactures and distributes a range of functional beverages, including coffee products under the CBK brand and hemp-infused offerings under the Hemp & Coffee label.